Trade Desk (NASDAQ:TTD) Given New $90.00 Price Target at Guggenheim

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective reduced by stock analysts at Guggenheim from $110.00 to $90.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the technology company's stock. Guggenheim's target price would suggest a potential upside of 22.90% from the company's previous close.

A number of other brokerages also recently issued reports on TTD. Loop Capital lowered their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Susquehanna cut their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets decreased their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Rosenblatt Securities assumed coverage on Trade Desk in a research report on Tuesday, April 29th. They set a "buy" rating and a $77.00 target price on the stock. Finally, DA Davidson decreased their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Friday. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $99.94.

Trade Desk Stock Performance

TTD stock traded up $13.33 during mid-day trading on Friday, reaching $73.23. The company had a trading volume of 28,053,464 shares, compared to its average volume of 5,690,598. The firm has a fifty day simple moving average of $54.55 and a 200 day simple moving average of $95.64. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 93.88, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Institutional Trading of Trade Desk

A number of hedge funds have recently bought and sold shares of TTD. Vanguard Group Inc. grew its position in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after purchasing an additional 253,137 shares during the period. Brown Advisory Inc. increased its stake in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after acquiring an additional 5,387,339 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares during the period. Norges Bank acquired a new stake in shares of Trade Desk in the fourth quarter worth approximately $524,187,000. Finally, FMR LLC increased its position in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.

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